DWINDLING DEVELOPERS' UNITS, SUPPLY CRUNCH?

Updated: Jan 14, 2021

Is there a possible land supply crunch in Singapore?


Sales of Developers' New Condo Units Are Growing Strong


Total Aggregate Sales: Developers sold an estimated 7,379 units in the first nine months of 2020. Pent-up demand notwithstanding, the pandemic has brought interest rates down as Governments around the world inject funds to support the economy and investors flock to stable assets offering more predictable returns.


Unsold Developers' Units Are Dwindling


Dwindling Unsold Developers' units: The surge in demand led to dwindling unsold uncompleted units in the market.


The Next Enbloc Cycle on the Horizon


Is the 20,000 unsold uncompleted units the benchmark for en-bloc? : The last en-bloc cycle started in 2016 when the unsold uncompleted units dropped to around 20,000 units. Going by the current sales rate, it is very likely that the 20,000 unsold uncompleted units situation will reach in 2021.


The Market is Still Healthy


Is the market healthy?: Seemingly, trends suggest that inspite of the pandemic, the market is still very healthy with residential building under construction stocks reducing with low interest rate reducing financing cost for buyers.


Unsold Uncompleted Units as of 3Q 2020

Number of unsold condos in Singapores
Number of unsold condos in Singapore

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Published by Eric Tan. For further communication, please contact 96646128

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